AUSTIN, Texas, Dec. 20, 2022 (GLOBE NEWSWIRE) -- Cassava Sciences, Inc. (Nasdaq: SAVA) announced today that a valued and long-time member of the Company, Nadav Friedmann, PhD, MD, has died following a brief journey with cancer, only recently discovered.

“We mourn profoundly the passing of a cherished colleague and friend,” said Remi Barbier, President and CEO. “For over 20 years, he generously gave his talents, expertise and integrity in support of our success. On behalf of our employees and our Board of Directors, I extend our deepest condolences to Dr. Friedmann’s family, friends and all those whose lives he touched.”

Dr. Friedmann was an esteemed member of our Board of Directors since 1998 and an Officer of the Company since 2001. He was also a force of nature in drug development, with eight drug approvals to his name and authorship on countless scientific papers and patents. Prior to joining Cassava Sciences, he served as President & CEO of Daiichi Pharmaceutical Corp and held senior leadership positions with Johnson & Johnson in R&D, including Head of Biotechnology Research.

James W. Kupiec, MD, who has been serving as Chief Clinical Development Officer of Cassava Sciences, will now serve as Chief Medical Officer for the Company, effective immediately.

In addition, pursuant to a resolution duly adopted December 19, 2022, by majority vote of the remaining Board of Directors of Cassava Sciences, the number of directors which constitutes the entire Board of Directors is now fixed at six directors, the majority of whom still consists of independent outside directors.

About Cassava Sciences, Inc.

Cassava Sciences is a clinical-stage biotechnology company based in Austin, Texas. Our mission is to detect and treat neurodegenerative diseases, such as Alzheimer’s disease. For more information, please visit: https://www.CassavaSciences.com

For More Information Contact:
Eric Schoen, Chief Financial Officer
(512) 501-2450, or eschoen@CassavaSciences.com